capital gains tax exemption on main residence

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Hi, can someone explain the exemption on capital gains tax on your main residence.

You need to have lived in it for a certain period of time?

What if the home is joint owned?
 
Your principal private residence is exempt for the period of time it was your PPR.

So if you own a property as your home for 1 year and then sell it, the gain is exempt.

If you live in it for 5 years as your home and rent it for 5 years, the gain is apportioned, so only 50% of the gain is subject to CGT. ( It might be that you get a year's grace, so it could be 60% exempt)

Not sure about joint ownership. What is the exact situation you want information on? Is it the PPR of one, and an investment for the other? Or is it a couple who have split up?
 
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